Capital A is moving to reshape its holdings in BigPay and Tune Protect under a broader restructuring.
The exercise centres on Move Digital Sdn Bhd, which owns 99.56% of BigPay and a 13.6% stake in Tune Protect Group Berhad.
Under the proposed plan, Move Digital may sell its BigPay stake through a market-driven process.
It also plans an orderly distribution of its Tune Protect shares.
The company is also looking to recover about RM32.2 million in receivables.
Proceeds from these assets are expected to go to creditors, mainly Capital A and related companies.
As part of the process, Move Digital has filed applications with the High Court of Malaya in Kuala Lumpur under Sections 366, 368 and 369 of the Companies Act 2016.
Move Digital is an intermediate holding company and does not run an operating business of its own.
Restructuring Could Ease BigPay Losses on Capital A
The restructuring is intended to simplify the group’s holdings, deal with historical liabilities and reduce further funding for loss-making businesses such as BigPay.
Capital A framed the move as a capital allocation decision rather than one driven by liquidity constraints.
The group intends to redirect capital towards its core operations.
It expects the exercise to allow it to deconsolidate BigPay’s historical operating losses from its financial statements.
BigPay recorded significant EBITDA and net losses in FY2025.
Capital A expects the change to improve its financial flexibility.
Move Digital is separate from AirAsia Move Sdn Bhd, Capital A’s digital travel platform.
AirAsia Move is directly owned by Capital A, is not affected by the exercise and continues to operate as usual.
Tan Sri Tony Fernandes, Group CEO of Capital A, said,
“This is about accountability, governance and taking control of our future. We are cleaning up our legacy assets and focusing 100% of our energy and capital on our high-growth businesses.
This move makes our financial position stronger and allows us to double down on what we do best.”
Featured image: Edited by Fintech News Malaysia, based on image by Magnific
